FLORIDA LIFE HEALTH AND ANNUITIES 2-15/ACTUAL QUESTIONS AND C
RECT DETAILED ANSWERS UPDATE ALREADY A+ GRADED | NEW!!
1. A list of the important terms to be understood in ZoomWords
preparing for the insurance exams
2. The same as annually renewable term (ARTs) Yearly Renewable Term Insur-
ance (YRT)
3. Ownership is assigned to another person perma- Absolute assignment
nently unless intentionally returned
4. Providing death benefits ahead of time of death Accelerated benefits rider
when insured is terminally ill
5. Offer has been made and accepted by the compa- Acceptance
ny, or by the client if counter-offer was made
6. Benefits payable when injured by accidental Accidental bodily injury provision
means
7. A plan specifically for accidental death or loss of Accidental death and dismem-
body parts berment
8. Twice (or three times) the benefit will be paid if Accidental death benefit rider
the insured dies in an accident
9. Loss of a body part-state test actual loss not just Accidental dismemberment
loss of use
10. Benefit only paid when the insured was not in Accidental means provision
control of the accident
11. Benefit paid when accident occurred because of Accidental results provision
any means; it just happened!
, FLORIDA LIFE HEALTH AND ANNUITIES 2-15/ACTUAL QUESTIONS AND C
RECT DETAILED ANSWERS UPDATE ALREADY A+ GRADED | NEW!!
12. Coverage for an insured disabled by accident or Accident and health insurance
illness
13. Purchased by premiums paid into variable annu- Accumulation unit
ity during the annuitants working years
14. The one category of serious illness where the pa- Acute illness
tient can fully recover
15. Where all specifications of forms, brochures, and Adhesion
contracts are pre-approved by the state
16. A combination term and whole life policy where it Adjustable life insurance
is easy to change various factors
17. Insurance company insists only with the paper- Administration services only
work for self-insureds (ASO)
18. Company approved, authorized, admitted, certi- Admitted insurer
fied to do business in the state
19. Where Alzheimers or similar patients can be mon- Adult daycare
itored and receive care during the day
20. poor choices made by an underwriter when se- Adverse selection
lecting risks
21. What's ok and what's NOT okay in advertising... Advertising code
found inside the Unfair Trade Practices Act
22. An office established for the purpose of selling Agency
insurance within the state
23. Agent
, FLORIDA LIFE HEALTH AND ANNUITIES 2-15/ACTUAL QUESTIONS AND C
RECT DETAILED ANSWERS UPDATE ALREADY A+ GRADED | NEW!!
Any licensed person who solicits insurance on be-
half of an insurance company
24. Part 3 of the application where the agent enters Agent's report
his/her comments regarding the transaction
25. A chance/risk for both of the parties. It never Aleatory
works out to be equal
26. Insurance company is located outside the USA Alien insurer
27. A neighborhood clinic commonly less expensive Ambulatory surgery
than the costs from a hospital
28. the same as the independent agency system American agency system
29. A term policy where the premium gradually in- Annually renewable term (ART)
creases annually by age
30. The owner of an annuity Annuitant
31. A savings product created for the purpose of a Annuity
lifetime income - liquidating a sum of money
32. The calculated value of the payout portion of the Annuity units
contract in a variable annuity
33. The category of work where the insured is able to Any occupation
perform some/any occupation
34. Based on what the company has provided to their Apparent authority
agents -they can use the material
35. Application
, FLORIDA LIFE HEALTH AND ANNUITIES 2-15/ACTUAL QUESTIONS AND C
RECT DETAILED ANSWERS UPDATE ALREADY A+ GRADED | NEW!!
Used to ask questions to provide underwriters
with a means of determining data and risks
36. A licensed agent must also be appointed by their Appointment
company in order to sell insurance
37. A conditional receipt, which becomes effective Approval receipt
only when approved by the insurer
38. An insurer, which assesses other policyholders Assessment mutual insurer
when a claim occurs
39. A policy can be assigned to a different owner with- Assignment
out approval from beneficiaries or the insurer
40. When converting from a term to whole life policy Attained age
and using the current age reached
41. Agent receives expressed (written), implied (busi- Authority
ness), apparent (what the company has provided)
42. see admitted company Authorized company
43. Premium received from cash value of a policy Automatic premium loan provi-
when client can't be found sion
44. Used in the calculation of the Social Security PIA Average indexed monthly earn-
ings (AIME)
45. Used in calculating the AIME above enroute to Average monthly wage (AMW)
obtaining the PIA
46. Excluding the client from coverage while flying if Aviation exclusion
the client is not a fare paying passenger (pilot)
RECT DETAILED ANSWERS UPDATE ALREADY A+ GRADED | NEW!!
1. A list of the important terms to be understood in ZoomWords
preparing for the insurance exams
2. The same as annually renewable term (ARTs) Yearly Renewable Term Insur-
ance (YRT)
3. Ownership is assigned to another person perma- Absolute assignment
nently unless intentionally returned
4. Providing death benefits ahead of time of death Accelerated benefits rider
when insured is terminally ill
5. Offer has been made and accepted by the compa- Acceptance
ny, or by the client if counter-offer was made
6. Benefits payable when injured by accidental Accidental bodily injury provision
means
7. A plan specifically for accidental death or loss of Accidental death and dismem-
body parts berment
8. Twice (or three times) the benefit will be paid if Accidental death benefit rider
the insured dies in an accident
9. Loss of a body part-state test actual loss not just Accidental dismemberment
loss of use
10. Benefit only paid when the insured was not in Accidental means provision
control of the accident
11. Benefit paid when accident occurred because of Accidental results provision
any means; it just happened!
, FLORIDA LIFE HEALTH AND ANNUITIES 2-15/ACTUAL QUESTIONS AND C
RECT DETAILED ANSWERS UPDATE ALREADY A+ GRADED | NEW!!
12. Coverage for an insured disabled by accident or Accident and health insurance
illness
13. Purchased by premiums paid into variable annu- Accumulation unit
ity during the annuitants working years
14. The one category of serious illness where the pa- Acute illness
tient can fully recover
15. Where all specifications of forms, brochures, and Adhesion
contracts are pre-approved by the state
16. A combination term and whole life policy where it Adjustable life insurance
is easy to change various factors
17. Insurance company insists only with the paper- Administration services only
work for self-insureds (ASO)
18. Company approved, authorized, admitted, certi- Admitted insurer
fied to do business in the state
19. Where Alzheimers or similar patients can be mon- Adult daycare
itored and receive care during the day
20. poor choices made by an underwriter when se- Adverse selection
lecting risks
21. What's ok and what's NOT okay in advertising... Advertising code
found inside the Unfair Trade Practices Act
22. An office established for the purpose of selling Agency
insurance within the state
23. Agent
, FLORIDA LIFE HEALTH AND ANNUITIES 2-15/ACTUAL QUESTIONS AND C
RECT DETAILED ANSWERS UPDATE ALREADY A+ GRADED | NEW!!
Any licensed person who solicits insurance on be-
half of an insurance company
24. Part 3 of the application where the agent enters Agent's report
his/her comments regarding the transaction
25. A chance/risk for both of the parties. It never Aleatory
works out to be equal
26. Insurance company is located outside the USA Alien insurer
27. A neighborhood clinic commonly less expensive Ambulatory surgery
than the costs from a hospital
28. the same as the independent agency system American agency system
29. A term policy where the premium gradually in- Annually renewable term (ART)
creases annually by age
30. The owner of an annuity Annuitant
31. A savings product created for the purpose of a Annuity
lifetime income - liquidating a sum of money
32. The calculated value of the payout portion of the Annuity units
contract in a variable annuity
33. The category of work where the insured is able to Any occupation
perform some/any occupation
34. Based on what the company has provided to their Apparent authority
agents -they can use the material
35. Application
, FLORIDA LIFE HEALTH AND ANNUITIES 2-15/ACTUAL QUESTIONS AND C
RECT DETAILED ANSWERS UPDATE ALREADY A+ GRADED | NEW!!
Used to ask questions to provide underwriters
with a means of determining data and risks
36. A licensed agent must also be appointed by their Appointment
company in order to sell insurance
37. A conditional receipt, which becomes effective Approval receipt
only when approved by the insurer
38. An insurer, which assesses other policyholders Assessment mutual insurer
when a claim occurs
39. A policy can be assigned to a different owner with- Assignment
out approval from beneficiaries or the insurer
40. When converting from a term to whole life policy Attained age
and using the current age reached
41. Agent receives expressed (written), implied (busi- Authority
ness), apparent (what the company has provided)
42. see admitted company Authorized company
43. Premium received from cash value of a policy Automatic premium loan provi-
when client can't be found sion
44. Used in the calculation of the Social Security PIA Average indexed monthly earn-
ings (AIME)
45. Used in calculating the AIME above enroute to Average monthly wage (AMW)
obtaining the PIA
46. Excluding the client from coverage while flying if Aviation exclusion
the client is not a fare paying passenger (pilot)
